They buy the house for you in cash; you then buy it back from them once your permanent financing (or old home sale) is ready.
You replace your current mortgage with a larger one and take the difference in cash.
House flippers or buyers planning to refinance quickly. Note: Expect interest rates between 8% and 15%. 🏠 2. Asset-Based Lending (Portfolio Loans)
The loan is secured by the value of the property itself.